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nitin (Querist)
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25 May 2012

Hi members i wanted to know something regarding short term capitol gain tax,i had filed itr of 5 lac for the fin year 2010-11,i had purchased a plot worth rs 16 lac in fin year 2011-12 now I am getting an offer of 32lac in fin yr 2012-13.whic means i had earned a gain of 16 lac. in a short term .itr for 11-12 is some where close to 8.5 lac. sir want to know how much will be the tax on this gain

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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25 May 2012 The short term capital gain is clubbed with the normal income and tax on the total income (including short term capital gain) will be calculated as per the slab rate.

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